NSEL crisis: Govt mulls Board changes for merged entity
The Corporate Affairs Ministry last week unveiled a proposal to merge NSEL -- which has been embroiled in an over Rs 5,600 crore payment crisis -- with Jignesh Shah-led Financial Technologies (India) Ltd.
Oct 27, 2014, 11:18 AM IST
FTIL stock rebounds after initial hiccup; m-cap up Rs 47 crore
Shares of Financial Technologies slumped to their lowest trading permissible limit for the day but rebounded to settle with gains of over 6 percent, adding nearly Rs 47 crore to its market capitalisation.
Oct 22, 2014, 21:29 PM IST
FTIL may have to absorb over Rs 5,200 cr NSEL liabilities
So far, the crisis-hit exchange has managed to recover only about Rs 360 crore dues from defaulters, a part of which has been disbursed and the rest is in an escrow account.
Oct 21, 2014, 20:20 PM IST
CERC gives Financial Technologies more time for IEX stake sale
The Central Electricity Regulatory Commission's (CERC) decision came on a plea filed by Financial Technologies (India) Ltd (FTIL) seeking more time to complete the divestment process.
Oct 03, 2014, 12:29 PM IST
FTIL opposes merger of NSEL with itself
FTIL on Tuesday opposed the merger of scam-hit NSEL with itself as proposed by regulator FMC for speedy recovery of dues.
Sep 16, 2014, 19:13 PM IST
NSEL lacks credibility; merge NSEL with FTIL: FMC to govt
Stating that crisis-hit NSEL is "bereft of any credibility", regulator FMC on Tuesday said it has recommended the government to consider merger of the spot commodity exchange with its promoter FTIL for speedy recovery of dues over Rs 5,300 crore from defaulters.
Sep 16, 2014, 15:22 PM IST
HC sets up panel headed by retd judge in NSEL scam
The committee will ascertain the liability that is outstanding against the defaulting borrowers of NSEL.
Sep 02, 2014, 20:42 PM IST
FTIL exits MCX by selling 5% stake for over Rs 200 cr
Financial Technologies (FTIL) on Wednesday exited country's largest commodity exchange MCX by selling its residual 5 percent stake in the bourse, it had originally promoted, for over Rs 200 crore.
Aug 27, 2014, 20:48 PM IST
FMC approves Kotak Mahindra Bank deal to buy 15% stake in MCX
Commodity market regulator FMC has approved the Kotak Mahindra Bank's deal to acquire 15 percent stake in MCX for Rs 459 crore from Jignesh Shah-led FTIL.
Aug 27, 2014, 16:19 PM IST
FTIL contests CBI charges related to setting up of MCX-SX
Financial Technologies Tuesday contested CBI charges that it had violated Sebi norms by entering into a buy back arrangement with a nationalised bank while setting up MCX-SX, saying the matter has already been settled by the Supreme Court.
Aug 26, 2014, 23:50 PM IST
SEBI relaxes norms for FTIL to divest stake in MCX
Commodity bourse MCX on Friday said that the capital markets regulator Securities and Exchange Board of India (Sebi) has relaxed norms to allow FTIL to bring down its stake to 1.99 percent in the commodity bourse.
Aug 22, 2014, 22:25 PM IST
HC grants bail to FTIL's Jignesh Shah in NSEL scam case
The Bombay High Court on Friday granted conditional bail to FTIL founder Jignesh Shah in the Rs 5000 crore NSEL scam over three months after he was arrested in the case.
Aug 22, 2014, 18:21 PM IST
MCX to ask SEBI to waive 2% cap on FTIL stake sale
The board of Multi-Commodity Exchange of India has decided to ask market regulator SEBI to relax the 2 percent lock-in cap on its promoter FTIL to enable the latter to sell entire 5 percent MCX stake via a block deal and comply with various regulatory orders.
Aug 18, 2014, 23:36 PM IST
FTIL Q1 net profit up 58% at Rs 128 cr
Financial Technologies (India) Ltd Wednesday posted 58 percent jump in standalone net profit at Rs 128.24 crore for the first quarter ended June 30, 2014-15, on account of higher income.
Aug 13, 2014, 20:25 PM IST
FTIL appoints investment banker to sell stake in IEX
Financial Technologies on Tuesday said it plans to exit from exchanges businesses and has appointed investment bankers to sell its stake in the Indian Energy Exchange (IEX).
Aug 12, 2014, 21:29 PM IST
HC to study chargesheet then decide on Jignesh Shah's bail
Economic Offences wing (EOW) of Mumbai Police intended to file chargesheet against Shah and others on or before August 4.
Aug 01, 2014, 10:31 AM IST
SEBI relaxes norms for FTIL to divest stake in MCX
To facilitate divestment by erstwhile promoters of MCX, SEBI has relaxed lock in period for such stake sale in the commodity bourse.
Jul 21, 2014, 22:30 PM IST
MCX stocks surge 8% on stake sale to Kotak Mahindra
Shares of Multi Commodity Exchange of India Monday settled nearly 8 percent higher after Jignesh Shah-led FTIL signed an agreement to sell 15 percent stake in MCX to Kotak Mahindra Bank for Rs 459 crore.
Jul 21, 2014, 17:54 PM IST
Kotak Mahindra Bank believes in long-term franchise of MCX: Paul Parambi
The bank on Sunday said it has entered into a Share Purchase Agreement to purchase 15 percent equity stake in MCX from FTIL for a consideration of Rs 459 crore.
Jul 21, 2014, 13:09 PM IST
FTIL to sell 15% stake in MCX to Kotak Bank for Rs 459 cr
Jignesh Shah-led Financial Technologies on Sunday said it has signed an agreement to sell 15 percent stake in MCX to Kotak Mahindra Bank for Rs 459 crore.
Jul 20, 2014, 22:31 PM IST
